With the FOMC and GDP data out of the way, the market should (in theory) be able to more easily pick a direction.. and run with it into August. The hourly cycle setup continues to offer renewed equity weakness.. into the Friday/monthly close.
Well... this market sure looks tired.... yes?
Equity bears could do with a daily close <sp'2100.. along with VIX in the 13s. Considering we had both of those targets this morning... it is not an overly bold hope.
*I remain long-VIX, and short-INTC (from an hour ago.. $28.90s).
As things... I am more than content to hold both of those trades into next week, but if there is some sig' downside tomorrow.. I'll likely drop both into the weekend.. as I try to do for any option positions.
back at 3pm